Balance Sheet (unaudited)

Interactive Report

Balance Sheet

	% change from

CHF million	31.3.04	31.12.03	31.12.03


Assets
Cash and balances with central banks	3,433	3,584	(4)
Due from banks	29,830	31,740	(6)
Cash collateral on securities borrowed	243,501	213,932	14
Reverse repurchase agreements	330,560	320,499	3
Trading portfolio assets	519,706	461,772	13
Positive replacement values	258,315	248,206	4
Loans	222,493	212,679	5
Financial investments	5,438	5,139	6
Accrued income and prepaid expenses	7,855	6,218	26
Investments in associates	1,718	1,616	6
Property and equipment	7,554	7,683	(2)
Goodwill and other intangible assets	11,616	11,529	1
Other assets	28,014	25,459	10


Total assets	1,670,033	1,550,056	8


Total subordinated assets	5,466	4,794	14


Liabilities
Due to banks	124,002	127,012	(2)
Cash collateral on securities lent	56,142	53,278	5
Repurchase agreements	429,506	415,863	3
Trading portfolio liabilities	169,153	143,957	18
Negative replacement values	272,738	254,768	7
Financial liabilities designated at fair value	39,313	35,286	11
Due to customers	359,362	346,633	4
Accrued expenses and deferred income	12,086	13,673	(12)
Debt issued	127,573	88,843	44
Other liabilities	37,950	31,360	21


Total liabilities	1,627,825	1,510,673	8


Minority interests	4,606	4,073	13


Shareholders' equity
Share capital	948	946	0
Share premium account	7,175	6,935	3
Net gains / (losses) not recognized in the income statement, net of tax	(703)	(983)	28
Retained earnings	39,064	36,641	7
Equity classified as obligation to purchase own shares	(172)	(49)	(251)
Treasury shares	(8,710)	(8,180)	(6)


Total shareholders' equity	37,602	35,310	6


Total liabilities, minority interests and shareholders' equity	1,670,033	1,550,056	8


Total subordinated liabilities	9,050	9,301	(3)

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